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<br />..... <br />t .. <br /> <br />, <br /> <br />STATE OF COLORADO <br /> <br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT <br />COLORADO SECRETARY OF STATE <br />1560 Broadway, Suite 200 - Denver, CO 80202-5169 <br />F1LED C <br />TOWN OF SILT OPy <br />P. O. Box 70 <br />SILT. COLORADO 81652 <br /> <br />DEBTOR: <br /> <br />DEBTOR'S FEDERAL TAX 10 # 81- C:,OO,;l.9<1::< <br /> <br />SECURED PARTY: <br /> <br />STATE OF COLORADO for the use and benefit of <br />The Department of Natural Resources, Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />COLLATERAL <br />CLASSIFICATION: <br /> <br />X CONTRACT RIGHTS <br /> <br />X OTHER <br /> <br />962002973 C $16.00 <br />SECRETARY OF STATE <br />01-11-96 11:06 <br /> <br />DEBTOR, for consideration, hereby grants to SeCURED PARTY a security interest in the fOllowing property and any and all additions, accessions <br />and substitutions thereto or therefor, hereinafter called the COLLATERAL: revenues pledged as described in Pledge of Revenues Provisions <br />contained In Loan Contract #C153702. <br /> <br />To secure payment of the indebtedness evidenced by above described contract between the above named parties herewith, payable to the <br />SeCURED PARTY, or order, as follows: the loan amount of $400.000 payable 8S descnoed in the Promissory Note Provisions contained in <br />above referenced loan contract. <br /> <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br /> <br />1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement states that the COUATERAL <br />is to be acquired after the date hereof, will be. the owner of the COLlATERAl free from any adverse lien. security interest or encumbrances; <br />and that DEBTOR will defend the COUATERAL against _all claims and demands. of all persons at anytime claiming the same or any interest <br />therein. <br /> <br />2. The COLLATERAL is used or bought primarily for: <br />Personal. family or household purposes; <br />Use in farming operations; <br />Use in business; <br />_X_ Other. - <br /> <br />~'., ,.: <br /> <br />.. ,.:. <br /> <br />3. . That DEBTOR'S address is as stated above, and the COLLATERAL will be kept at the above address. <br /> <br />4. If any of the COLLATERAL is crops, oil, gas or minerals to be extracted or timber to be cut, or goods which are or are to become <br />fixtures, said COLLATERAL concerns the following described real estate situate in the County of X and State of Color!!do. to-wit: N/A <br />. ..'-,.. <br /> <br />5. Promptly to notify SeCURED PARTY of any changes in the location of the COLLATERAL. <br /> <br />6 . To pay all taxes and assessments of every nature which may be levied or assessed against the COLLATERAL. <br /> <br />7. To not permit or allow any adverse lien, securrty interest or encumbrance whatsoever upon the COLLATERAL and not to permit the <br />same to be attached or replevined. <br /> <br />8. That the COLLATERAL is in good condition, and that the DEBTOR will, at its own expense, keep the same in good condition and from <br />time to time, forthwith, replace and repair all such parts of the collateral as may be broken, worn out, or damaged without allowing any lien <br />to be created upon the COLLATERAL on account of such replacement or repairs, and that the SECURED PARTY m~y examine and ins.pect the <br />COLLATERAL at any time, wherever located. <br /> <br />9. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations or ordinances. <br /> <br />ADDF::NnIY 1= <br />